Hi,
We are borrowing currently $500K with ANZ (for an ip) and are thinking about switching. Anything to watch out for with Ubank? We are currently on a rate of 4.98% variable with their breakfree package. 1st year annual fee is free but kicks in year 2 and beyond. We have an offset account.
Ubank are offering currently 4.87% less a 0.33% credit discount for the life of the loan. This brings it to 4.54% at the current rate with no annual fees for the life of the loan but no offset account.
Offset account has no use for me, we are more for the money saving part than flexibility. I'm more no frills and to be quite honest I cannot see why I should pay annual fees or extra interest rates to help pay for ANZ staff and their office rents...
By simple calcs, if we switch to Ubank we would save $5K to $7K with current rates....it looks like a no brainer, but is there anything I should really look out for and traps?
Thanks!
We are borrowing currently $500K with ANZ (for an ip) and are thinking about switching. Anything to watch out for with Ubank? We are currently on a rate of 4.98% variable with their breakfree package. 1st year annual fee is free but kicks in year 2 and beyond. We have an offset account.
Ubank are offering currently 4.87% less a 0.33% credit discount for the life of the loan. This brings it to 4.54% at the current rate with no annual fees for the life of the loan but no offset account.
Offset account has no use for me, we are more for the money saving part than flexibility. I'm more no frills and to be quite honest I cannot see why I should pay annual fees or extra interest rates to help pay for ANZ staff and their office rents...
By simple calcs, if we switch to Ubank we would save $5K to $7K with current rates....it looks like a no brainer, but is there anything I should really look out for and traps?
Thanks!